Press release Ecully,
Reverse split of
- Reverse split by exchange of 2,000 existing shares for 1 new share
- Start of share split period:
January 25, 2024 - Effective date of share split:
February 27, 2024
Implementation of the share split
At its meeting of
The purpose of this reverse stock split is to reduce the volatility of Spineway’s share price, promote its stabilization and thus better reflect the Group’s development prospects.
This reverse stock split has no impact on the amount of share capital. Only the par value of the share and, in turn, the number of shares in circulation will be modified.
The consolidation is therefore a purely technical adjustment, with no direct impact on the total value of the
Reverse split methods
The terms and conditions of the reverse split were approved by the Board of Directors at its meeting of
The main terms are as follows:
- Basis of reverse split: exchange of two thousand (2,000) existing shares with a par value of 0.002 euro for one (1) new share with a par value of
4.00 euros . - Number of shares subject to the reverse split: all the shares comprising the capital of
Spineway , i.e. 154,696,229 shares with a par value of0.002 euro each. - Number of shares post-reverse split: 77,348 new shares with a par value of
4.00 euros each.
It should be noted that
It is also specified that the number of shares subject to and resulting from the reverse split will be increased, where applicable, by the shares issued following the exercise of the rights of the beneficiaries of any securities giving access to the Company’s capital, or by the shares that may be issued from the date of the reverse split notice. In this case, the definitive number of shares subject to the reverse split and the definitive number of shares to be issued as a result of the reverse split will be determined by the Board of Directors, with the option of sub-delegation, before the start of the reverse split, and will be published by the Company.
- Start date of the reverse split:
January 25, 2024 - Closing date of the reverse split:
February 26, 2024 - Effective date of the reverse split:
February 27, 2024
Each shareholder will be automatically allocated, by his or her financial intermediary, one (1) new share for two thousand (2,000) existing shares held. Shareholders holding a number of shares multiple of two thousand (2,000) will therefore not need to take any action.
Shareholders who do not hold a number of existing shares corresponding to a whole number of new shares must personally purchase or sell the fractional shares between
After this period, the new shares which could not be allocated individually and corresponding to fractional rights will be sold on the stock market by the account holder within 30 days from
At the end of the reverse split period, the existing shares not presented for the reverse split will be delisted and will lose their voting and dividend rights.
Indicative reverse split timetable
Share exchange period | |
Start of exchange operations | |
End of exchange operations | |
Reverse split operations | |
Last listing of the existing shares on Euronext Growth (ISIN code: FR001400BVK2) | |
First listing of the new shares on Euronext Growth (ISIN code: FR001400N2P2) | |
Allocation of the new shares | |
Management of fractional shares | |
Start of compensation of fractional shares by financial intermediaries | |
Deadline for the compensation of fractional shares by financial intermediaries |
Next events:
SPINEWAY IS ELIGIBLE FOR THE PEA-PME (EQUITY SAVINGS PLANS FOR SMES)
Find out all about
This press release has been prepared in both English and French. In case of discrepancies, the French version shall prevail.
ISIN: FR001400BVK2 - ALSPW
Contacts:
SPINEWAY GROUP Shareholder-services line Available Tuesday through Thursday +33 (0)806 706 060 | Eligible PEA / PME ALSPW Euronext Growth | AELIUM Finance & Communication Investor relations spineway@aelium.fr |
Attachment
- CP_SPW-REGROUPEMENT_202401_GB_VDEF
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